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New Zealand Dairy Company Fonterra divesting from Chile after thirty years of operations

New Zealand’s dairy group Fonterra, one of the largest in the world has announced it is leaving Chile after thirty years and has put on sale its Chilean branch Soprole of which it controls 99% of the stock. The company said the divestment process is estimated to take two years and it is focused on improving assets and debt conditions, plus improving production and profits in New Zealand by 2030. Besides leaving Chile Fonterra is planning a partial exit from Australia and implementing an ambitious investment…

New Zealand based Fonterra Dairy Group merges its Chilean businesses into one entity

Fonterra continues to streamline its operations in Chile after merging Soprole and Prolesur into one entity. “Previously, Soprole and Prolesur were both publicly listed companies. As of 1 March 2021, Soprole is the single listed company under which the Prolesur business now sits,” said Kelvin Wickham, Fonterra chief executive for Africa, Middle East, Europe, North Asia, Americas. The day-to-day operations and management of the two businesses remain unchanged but “simplifying the corporate structure of…

Things are looking up for New Zealand’s Fonterra’s Chile investment

Fonterra’s Prolesur is leading the charge in the dramatic recovery in Chilean milk production as the company reaps the benefits of rebuilding relationships with farmers. The Latin American nation’s liquid milk collection reached 1.3 billion litres in the first eight months of the year, up 6.3 percent from a year earlier, or 79 million litres. More than half of that increase went to Prolesur. This compares to the 12.8 billion litre collection in New Zealand in the first eight months of the year. …

New Zealand owned Fonterra’s low milk payments to Chilean farmers spawn a breakaway co-op plan

Dairy farmers in southern Chile say Fonterra’s continuing underpayment for their milk has left them little choice but to build their own processing cooperative. The South American country’s second-biggest dairying operator, the part Kiwi-owned Chilterra company, and about 200 farming families were in advanced stages of planning the new cooperative, said chairman Mike McBeath, a Waikato dairying consultant and businessman. The next step was to raise US$10-12 million to build a processing plant. Chilterra…
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